Horti-Business Management (2+0)

Specialized financial institutions in India are as follows

• Unit Trust of India (UTI)
• Securities Trading Corporation of India Ltd. (STCI)
• Industrial Development Bank of India (IDBI)
• Industrial Reconstruction Bank of India (IRBI), now (Industrial Investment Bank of India)
• Export - Import Bank of India (EXIM Bank)
• Small Industries Development Bank of India (SIDBI)
• National Bank for Agriculture and Rural Development (NABARD)
• Life Insurance Corporation of India (LIC)
• General Insurance Corporation of India (GIC)
• Shipping Credit and Investment Company of India Ltd. (SCICI)
• Housing and Urban Development Corporation Ltd. (HUDCO)
• National Housing Bank (NHB)
National Bank for Agriculture and Rural Development (NABARD)

• NABARD is set up as an apex Development Bank with a mandate for facilitating credit flow for promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts. It also has the mandate to support all other allied economic activities in rural areas, promote integrated and sustainable rural development and secure prosperity of rural areas. In discharging its role as a facilitator for rural prosperity NABARD is entrusted with
1. Providing refinance to lending institutions in rural areas
2. Bringing about or promoting institutional development and
3. Evaluating, monitoring and inspecting the client banks
• Besides this pivotal role, NABARD also:
• Acts as a coordinator in the operations of rural credit institutions
• Extends assistance to the government, the Reserve Bank of India and other organizations in matters relating to rural development
• Offers training and research facilities for banks, cooperatives and organizations working in the field of rural development
• Helps the state governments in reaching their targets of providing assistance to eligible institutions in agriculture and rural development Acts as regulator for cooperative banks and RRBs.
Regional Rural Banks (RRB)

• Regional Rural Banks were established under the provisions of an Ordinance promulgated on the 26th September 1975 and the RRB Act, 1976 with an objective to ensure sufficient institutional credit for agriculture and other rural sectors. The RRBs mobilize financial resources from rural / semi-urban areas and grant loans and advances mostly to small and marginal farmers, agricultural labourers and rural artisans. The area of operation of RRBs is limited to the area as notified by GoI covering one or more districts in the State. RRBs are jointly owned by GoI, the concerned State Government and Sponsor Banks (27 scheduled commercial banks and one State Cooperative Bank); the issued capital of a RRB is shared by the owners in the proportion of 50%, 15% and 35% respectively.